PPDAI Group Inc – (NYSE:PPDF) Sees Significant Decrease in Short Interest

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PPDAI Group Inc – (NYSE:PPDF) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 932,500 shares, a decrease of 7.7% from the September 30th total of 1,010,000 shares. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is presently 0.7 days. Approximately 0.5% of the shares of the company are sold short.

Several equities analysts have issued reports on the stock. ValuEngine upgraded shares of PPDAI Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group restated an “outperform” rating and set a $5.80 target price on shares of PPDAI Group in a research note on Wednesday, October 9th. Finally, UBS Group upgraded shares of PPDAI Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. PPDAI Group has a consensus rating of “Buy” and an average price target of $5.18.

PPDF traded down $0.14 during midday trading on Monday, hitting $2.87. 2,777,800 shares of the company traded hands, compared to its average volume of 1,267,054. The company’s 50-day moving average is $2.88 and its 200 day moving average is $3.96. PPDAI Group has a 52 week low of $2.62 and a 52 week high of $6.41. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $886.10 million, a PE ratio of 2.27 and a beta of 1.49.

PPDAI Group (NYSE:PPDF) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.95 by ($1.64). PPDAI Group had a return on equity of 45.31% and a net margin of 52.42%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.33 billion. The company’s revenue was up 46.6% on a year-over-year basis.

Large investors have recently modified their holdings of the company. Aperio Group LLC bought a new position in shares of PPDAI Group in the 2nd quarter worth approximately $26,000. Bank of Montreal Can bought a new position in shares of PPDAI Group in the 2nd quarter worth approximately $39,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of PPDAI Group in the 2nd quarter worth approximately $44,000. Russell Investments Group Ltd. bought a new position in shares of PPDAI Group in the 2nd quarter worth approximately $48,000. Finally, Mackenzie Financial Corp bought a new position in shares of PPDAI Group in the 2nd quarter worth approximately $72,000. Hedge funds and other institutional investors own 13.10% of the company’s stock.

PPDAI Group Company Profile

PPDAI Group Inc, an investment holding company, operates an online consumer finance marketplace through its platform in the People's Republic of China. It provides services to match borrowers with investors and facilitate loan transactions on its marketplace through the lifecycle of loans. The company offers standard, handy cash, consumption, and other loan products; and investment services to investors and institutional funding partners.

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